Re: Flip this House - on A&E

Originally Posted by Margaritaville;2864757;

Ok - I watched Saturday's episode with Assmando and I almost shut it off at about midway through. He could not have been an uglier person than what he was showing on this house. He treats his employees horribly and I don't understand why Brent even works for him still. He seems to take bizarre pleasure in yelling at / humiliating Brent at every turn. And Brent just takes it. I don't know that he realizes how ignorant he appears on the show.

This house spelled disaster from the moment we were shown inside the front door - it was extremely apparent that Assmando had NEVER been to the property before. And when he can't find the house, he makes some asinine statement about owning something like 70% of the homes on that street. Riiiight... Egotistical much?

Oh yes - and I need some help with the math on this one... He purchased the property for 24,000 two years ago, and says that the comps show he can sell it for around 75,000. Okay - so far I get it. Here is where I get lost -- he says that if he has to spend 15,000 to 20,000 to fix the property, he will make NO PROFIT. He ends up spending 6,500 (I call bs on that) and now stands to profit over 50,000??? Huh???

San Antonio's economy is doing that well? While the rest of the country's housing industry is in a slump? I find it hard to believe that in 2 yrs the house tripled in value. I live in the DC metro area and yeah my is worth twice as much as I paid for it but it took 10 yrs in a very active ecomony to do so. I have a strong feeling Assmondo is stretching the facts a bit.

Re: Flip this House - on A&E

Bearcata, SA's housing market is still somewhat strong, we seem to be behind the trend. Though there are more and more houses sitting empty waiting to be sold. I don't know what area the house he flipped is in, but certain sections of town are just booming real estate wise.

Re: Flip this House - on A&E

Originally Posted by Meda;2868769;

Bearcata, SA's housing market is still somewhat strong, we seem to be behind the trend. Though there are more and more houses sitting empty waiting to be sold. I don't know what area the house he flipped is in, but certain sections of town are just booming real estate wise.

Thanks for the update Meda. Nice to know that some areas of the country are still booming. I hear Nashville is doing well also (per TLC's Flip That House). We have a 10 to 14 month backlog of inventory in the DC Metro area. I have several foreclosures within a 2 block radius of my house. In fact right across the street, a nice 4 bedroom 2 1/2 bath house sitting on a 10,000 sq ft lot. In 1997 the house was bought for $168,000 my neighbour sold it in 2005 for $440,000. Two hispanic families bought it and sold it one yr later (2006) for $540,000 to another hispanic couple who had about 4 to 6 extra roommates. In May 2007 they put it on the market, I don't know for how much but you could already tell that the housing market had been slowing down since March. They finally moved out in November. The house was in foreclosure and just sold in February 2008 for $354,000.

Re: Flip this House - on A&E

Originally Posted by Bearcata;2968018;

Any one watching? Or has Armando finally disgusted everyone?

I quit! Actually I just quit watching the ones featuring San Antonio. Cannot stand Armando. So I've enjoyed the last two weeks having Than & Paul and then Peter. Dare I hope they've finally run out of Armando episodes?